I guess all these trading competitions are good for the pro traders. Most people will lose their money if they participate in them coz of pump and dump.
even professional traders can also feel the lost if they are not careful deciding when to enter the contest . so they are also in the risk like unprofessional traders when you participating in competition chances of loosing is higher you can't avoid this to happen your a pro or not.
The project will be the one who will benefit with this competition traders will only benefit if they win which is also low chance unless you prepared to use a lot of money and risk it all.